Accord Transformer and Mobilise App Lab IPOs Receive Strong Demand on First Day, While Kiaasa Retail Offer Falls Short

Initial Public Offerings (IPOs) Update

Key Figures:

• Accord Transformer: Subscribed 9.8 times on February 23, first day of bidding
• Mobilise App Lab: Subscribed 3.52 times on February 23, first day of bidding
• Kiaasa Retail: Undersubscribed on February 23, first day of bidding, 10% subscribed

IPO Details:

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

• Accord Transformer

• Offer size: 39.78 lakh shares
• Number of applications: 5,539
• Retail portion subscribed: 16.26 times
• Non-institutional investors subscribed: 8.31 times
• Qualified institutional buyers subscribed: 2%
• Price band: Rs 43-46 per share
• Proceeds from fresh issue: Rs 25.59 crore
• Utilisation of proceeds: Machinery and equipment (Rs 13 crore), working capital requirements (Rs 10 crore), and general corporate purposes (remainder)

• Mobilise App Lab

• Offer size: 17.98 lakh shares
• Number of applications: 1,485
• Non-institutional investors subscribed: 7.36 times
• Retail investors subscribed: 4.74 times
• Qualified institutional buyers subscribed: 1%
• Price band: Rs 75-80 per share
• Proceeds from fresh issue: Rs 20.1 crore
• Utilisation of proceeds: Product development, business development and marketing activities, infrastructure, and general corporate purposes

• Kiaasa Retail

• Offer size: 54.9 lakh shares
• Number of applications: 255
• Qualified institutional investors fully subscribed
• Retail investors subscribed: 16%
• Non-institutional investors subscribed: 1%
• Price band: Rs 121-127 per share
• Proceeds from fresh issue: Rs 69.72 crore
• Utilisation of proceeds: Opening new stores (Rs 46.4 crore) and general corporate purposes (remainder)